July 1 (Bloomberg) — The Federal Reserve may increase interest rates in the second or third quarter of next year, according to BlackRock Inc., the world’s largest money manager.

The company’s view is not far from consensus and there would need to be a big improvement in U.S. economic data to change that market view, Stephen Cohen, chief investment strategist for international fixed income, said today in London. BlackRock, the money manager for more than $4 trillion in assets, forecasts Treasury 10-year yields to rise to at least 2.70 percent by the end of the year as the economy strengthens.

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